                                    UNITED STATES
                          SECURITIES AND EXCHANGE COMMISSION
                                Washington, D.C. 20549

                                      FORM 8-K

                                   CURRENT REPORT
        Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

             Date of Report (Date of earliest event reported): August 25, 2005
                             (Date of earliest event reported)


                                MORGAN STANLEY ABS CAPITAL I INC.
             (as Depositor under the Pooling and Servicing Agreement, dated as
                  May 1, 2005, providing for the issuance of Morgan Stanley
              Home Equity Loan Trust, Mortgage Pass-Through Certificates
                                      Series 2005-2)
                      (Exact name of registrant as specified in charter)


                                         DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-121914-02                        13-3939229
          (Commission File Number)        (I.R.S. Employer Identification No.)


           1585 BROADWAY, 2ND FLOOR
           NEW YORK, NEW YORK                             10036
          (Address of principal executive offices)     (Zip Code)


          Registrant's Telephone Number, Including Area Code:  (212) 761-4000


             (Former name or former address, if changed since last report.)


     Check the appropriate box below if the Form 8-K filing is intended to
     simultaneously satisfy the filing obligation of the registrant under any
     of the following provisions (see General Instruction A.2. below):

     [  ] Written communications pursuant to Rule 425 under the Securities Act
     (17 CFR 230.425)

     [  ] Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act
     (17 CFR 240.14a-12(b))

     [  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

     [  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))


     Item 8.01 Other Events.

     This current report on Form 8-K relates to the monthly distribution
     reported to the holders of Morgan Stanley Home Equity Loan Trust,
     Mortgage Pass-Through Certificates Series 2005-2, which was made on
     May 1, 2005


     Item 9.01 Financial Statements and Exhibits.

     (c) Exhibits

     Exhibit No. Description

     99.1 Monthly Remittance Statement to the Certificateholders dated as of
     August 25, 2005.


                                  SIGNATURES


    Pursuant to the requirements of the Securities Exchange Act of 1934,
    the Registrant has duly caused this report to be signed on behalf of
    the Registrant by the undersigned thereunto duly authorized.



                                   DEUTSCHE BANK NATIONAL TRUST COMPANY, IN
                                   ITS CAPACITY AS TRUSTEE UNDER THE POOLING
                                   AND SERVICING AGREEMENT ON BEHALF OF
                                   MORGAN STANLEY ABS CAPITAL I INC.,
                                   REGISTRANT



          Date:  Aug 26, 2005               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President



                                   EXHIBIT INDEX

         DOCUMENT

         99.1 Monthly Remittance Statement to the Certificateholders dated as of
              August 25, 2005.



Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution

				External Parties						Table of Contents

													Page
				Seller									Page
				Seller						1. Certificate Payment Report					2
				Morgan Stanley						1. Certificate Payment Report					2
				Morgan Stanley						2. Collection Account Report					4
										2. Collection Account Report					4
										3. Credit Enhancement Report					6
										4. Collateral Report					7
				Certificate Insurer(s)						5. Delinquency Report					10
				Certificate Insurer(s)						5. Delinquency Report					10
										6. REO Report					13

										7. Foreclosure Report					14
										8. Prepayment Report					15
										9. Prepayment Detail Report					18
										9. Prepayment Detail Report					18
										10. Realized Loss Report					21
										11. Realized Loss Detail Report					24
				Servicer(s)						11. Realized Loss Detail Report					24
				Servicer(s)						12. Triggers and Adj. Cert. Report					25
				J. P. Morgan						12. Triggers and Adj. Cert. Report					25
				J. P. Morgan						13. Other Related Information					26
				HomeQ Servicing Corp.						13. Other Related Information					26
				HomeQ Servicing Corp.
				Countrywide Home Loans Srvc LP


				Underwriter(s)
				Morgan Stanley
				Blaylock & Partners, L.P.
				Utendahl Capital Partners, L.P.

										Total Number of Pages					26
										Total Number of Pages

				Dates						Contacts

				Cut-Off Date:			May 01, 2005			Marion Hogan
				Close Date:			May 26, 2005			Administrator
				First Distribution Date:			June 27, 2005			(714) 247-6282
										marion.c.hogan@db.com
										marion.c.hogan@db.com
										Address:
										1761 East St. Andrew Place, Santa Ana, CA 92705
				Distribution Date:			August 25, 2005
										Factor Information:			(800) 735-7777
				Record Date:			July 29, 2005			Factor Information:			(800) 735-7777
										Main Phone Number:			(714) 247-6000

							August 24, 2005
							August 24, 2005

										https://www.tss.db.com/invr






Page 1 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution
Certificate Payment Report
Current Period Distribution - REMIC II
					Prior												Current
	Class		Original		Principal						Total		Realized		Deferred		Principal
	Class		Original		Principal						Total		Realized		Deferred		Principal
Class	Type	Cur	Face Value		Balance		Interest		Principal		Distribution		Loss		Interest		Balance


					(1)		(2)		(3)		(4)=(2)+(3)		(5)		(6)		(7)=(1)-(3)-(5)+(6)

A-1ss	SR	$	209,431,000.00		200,790,236.42		637,146.46		5,483,628.06		6,120,774.52		0.00		0.00		195,306,608.36
A-1ss	SR	$	209,431,000.00		200,790,236.42		637,146.46		5,483,628.06		6,120,774.52		0.00		0.00		195,306,608.36
A-1mz	SR	$	52,358,000.00		50,197,798.79		160,800.28		1,370,913.56		1,531,713.84		0.00		0.00		48,826,885.23
A-2a	SR	$	288,963,000.00		269,155,239.06		822,792.61		13,098,173.34		13,920,965.95		0.00		0.00		256,057,065.72
A-2b	SR	$	100,000,000.00		100,000,000.00		316,888.89		0.00		316,888.89		0.00		0.00		100,000,000.00
A-2c	SR	$	80,000,000.00		80,000,000.00		260,400.00		0.00		260,400.00		0.00		0.00		80,000,000.00
M-1	MEZ,FLT	$	35,366,000.00		35,366,000.00		117,857.20		0.01		117,857.21		0.00		0.00		35,365,999.99
M-2	MEZ,FLT	$	25,721,000.00		25,721,000.00		86,158.21		0.00		86,158.21		0.00		0.00		25,721,000.00
M-3	MEZ,FLT	$	17,913,000.00		17,913,000.00		60,312.08		0.00		60,312.08		0.00		0.00		17,913,000.00
M-4	MEZ,FLT	$	16,535,000.00		16,535,000.00		58,235.35		0.00		58,235.35		0.00		0.00		16,535,000.00
M-5	MEZ,FLT	$	14,698,000.00		14,698,000.00		52,145.24		0.00		52,145.24		0.00		0.00		14,698,000.00
M-6	MEZ,FLT	$	14,698,000.00		14,698,000.00		52,778.07		0.00		52,778.07		0.00		0.00		14,698,000.00
B-1	SUB, FLT, S	$	12,400,000.00		12,400,000.00		49,758.44		0.00		49,758.44		0.00		0.00		12,400,000.00
B-2	SUB, FLT, S	$	11,942,000.00		11,942,000.00		48,743.26		0.00		48,743.26		0.00		0.00		11,942,000.00
B-3	SUB, FLT, S	$	10,105,000.00		10,105,000.00		44,638.84		0.00		44,638.84		0.00		0.00		10,105,000.00
X	EXE/WAC	$	28,477,345.00		28,476,827.70		2,219,697.98		0.00		2,219,697.98		0.00		0.00		28,476,827.70
P	NOF/EXE	$	0.00		0.00		515,027.63		0.00		515,027.63		0.00		0.00		0.00
R	RES/EXE	$	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

Total			918,607,345.00		887,998,101.97		5,503,380.54		19,952,714.97		25,456,095.51		0.00		0.00		868,045,387.00
Total




Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face-
									Orig. Principal		Prior							Current
									Orig. Principal		Prior							Current
	Period		Period						(with Notional)		Principal						Total	Principal
	Period		Period
Class	Starting		Ending		Method		Cusip		Balance		Balance		Interest		Principal		Distribution	Balance

									(1)		(1)		(2)		(3)		(4)=(2)+(3)	(5)
A-1ss	07/25/05		08/24/05		A-Act/360		61744CQV1		209,431,000.00		958.741716		3.042274		26.183459		29.225733	932.558257
A-1mz	07/25/05		08/24/05		A-Act/360		61744CQU3		52,358,000.00		958.741716		3.071169		26.183459		29.254629	932.558257
A-2a	07/25/05		08/24/05		A-Act/360		61744CQG4		288,963,000.00		931.452259		2.847398		45.328202		48.175600	886.124056
A-2b	07/25/05		08/24/05		A-Act/360		61744CQH2		100,000,000.00		1,000.000000		3.168889		0.000000		3.168889	1,000.000000
A-2c	07/25/05		08/24/05		A-Act/360		61744CQJ8		80,000,000.00		1,000.000000		3.255000		0.000000		3.255000	1,000.000000
M-1	07/25/05		08/24/05		A-Act/360		61744CQK5		35,366,000.00		1,000.000000		3.332500		0.000000		3.332500	1,000.000000
M-2	07/25/05		08/24/05		A-Act/360		61744CQL3		25,721,000.00		1,000.000000		3.349722		0.000000		3.349722	1,000.000000
M-3	07/25/05		08/24/05		A-Act/360		61744CQM1		17,913,000.00		1,000.000000		3.366945		0.000000		3.366945	1,000.000000
M-4	07/25/05		08/24/05		A-Act/360		61744CQN9		16,535,000.00		1,000.000000		3.521944		0.000000		3.521944	1,000.000000
M-5	07/25/05		08/24/05		A-Act/360		61744CQP4		14,698,000.00		1,000.000000		3.547778		0.000000		3.547778	1,000.000000
M-6	07/25/05		08/24/05		A-Act/360		61744CQQ2		14,698,000.00		1,000.000000		3.590833		0.000000		3.590833	1,000.000000
B-1	07/25/05		08/24/05		A-Act/360		61744CQR0		12,400,000.00		1,000.000000		4.012777		0.000000		4.012777	1,000.000000
B-2	07/25/05		08/24/05		A-Act/360		61744CQS8		11,942,000.00		1,000.000000		4.081666		0.000000		4.081666	1,000.000000
B-3	07/25/05		08/24/05		A-Act/360		61744CQT6		10,105,000.00		1,000.000000		4.417500		0.000000		4.417500	1,000.000000
X	07/25/05		08/24/05				28,477,345.00		999.981835		77.946100		0.000000		77.946100		999.981835
P	07/25/05		08/24/05				0.00		0.000000		0.000000		0.000000		0.000000		0.000000
R	07/25/05		08/24/05				0.00		0.000000		0.000000		0.000000		0.000000		0.000000



Page 2 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution

Distribution to Date - REMIC II
																	Current


	Original				Unscheduled		Scheduled		Total		Total		Realized		Deferred		Principal

Class	Face Value		Interest		Principal		Principal		Principal		Distribution		Loss		Interest		Balance
	(1)		(2)		(3)		(4)		(5)=(3)+(4)		(6)=(2)+(5)		(7)		(8)		(9)=(1)-(5)-(7)+(8)
A-1ss	209,431,000.00		1,819,227.49		13,726,259.85		398,131.79		14,124,391.64		15,943,619.13		0.00		0.00		195,306,608.36
A-1mz	52,358,000.00		459,347.55		3,431,581.35		99,533.42		3,531,114.77		3,990,462.32		0.00		0.00		48,826,885.23
A-2a	288,963,000.00		2,388,420.38		32,039,385.62		866,548.66		32,905,934.28		35,294,354.66		0.00		0.00		256,057,065.72
A-2b	100,000,000.00		886,007.33		0.00		0.00		0.00		886,007.33		0.00		0.00		100,000,000.00
A-2c	80,000,000.00		729,028.09		0.00		0.00		0.00		729,028.09		0.00		0.00		80,000,000.00
M-1	35,366,000.00		330,330.87		0.01		0.00		0.01		330,330.88		0.00		0.00		35,365,999.99
M-2	25,721,000.00		241,543.51		0.00		0.00		0.00		241,543.51		0.00		0.00		25,721,000.00
M-3	17,913,000.00		169,124.92		0.00		0.00		0.00		169,124.92		0.00		0.00		17,913,000.00
M-4	16,535,000.00		163,638.00		0.00		0.00		0.00		163,638.00		0.00		0.00		16,535,000.00
M-5	14,698,000.00		146,572.80		0.00		0.00		0.00		146,572.80		0.00		0.00		14,698,000.00
M-6	14,698,000.00		148,430.47		0.00		0.00		0.00		148,430.47		0.00		0.00		14,698,000.00
B-1	12,400,000.00		140,582.46		0.00		0.00		0.00		140,582.46		0.00		0.00		12,400,000.00
B-2	11,942,000.00		137,804.92		0.00		0.00		0.00		137,804.92		0.00		0.00		11,942,000.00
B-3	10,105,000.00		126,568.68		0.00		0.00		0.00		126,568.68		0.00		0.00		10,105,000.00
X	28,477,345.00		7,371,289.62		496.42		20.89		517.30		7,371,806.92		0.00		0.00		28,476,827.70
P	0.00		1,193,355.43		0.00		0.00		0.00		1,193,355.43		0.00		0.00		0.00
R	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

Total	918,607,345.00		16,451,272.52		49,197,723.25		1,364,234.76		50,561,958.00		67,013,230.52		0.00		0.00		868,045,387.00


Interest Detail - REMIC II
	Pass		Prior Principal				Non-		Prior		Unscheduled				Paid or		Current
	Pass		Prior Principal				Non-		Prior		Unscheduled				Paid or

	Through		(with Notional)		Accrued		Supported		Unpaid		Interest		Optimal		Deferred		Unpaid

Class	Rate		Balance		Interest		Interest SF		Interest		Adjustment		Interest		Interest		Interest
					(1)		(2)		(3)		(4)		(5)=(1)-(2)+(3)+(4)		(6)		(7)=(5)-(6)
A-1ss	3.68500%		200,790,236.42		637,146.46		0.00		0.00		0.00		637,146.46		637,146.46		0.00
A-1mz	3.72000%		50,197,798.79		160,800.28		0.00		0.00		0.00		160,800.28		160,800.28		0.00
A-2a	3.55000%		269,155,239.06		822,792.61		0.00		0.00		0.00		822,792.61		822,792.61		0.00
A-2b	3.68000%		100,000,000.00		316,888.89		0.00		0.00		0.00		316,888.89		316,888.89		0.00
A-2c	3.78000%		80,000,000.00		260,400.00		0.00		0.00		0.00		260,400.00		260,400.00		0.00
M-1	3.87000%		35,366,000.00		117,857.20		0.00		0.00		0.00		117,857.20		117,857.20		0.00
M-2	3.89000%		25,721,000.00		86,158.21		0.00		0.00		0.00		86,158.21		86,158.21		0.00
M-3	3.91000%		17,913,000.00		60,312.08		0.00		0.00		0.00		60,312.08		60,312.08		0.00
M-4	4.09000%		16,535,000.00		58,235.35		0.00		0.00		0.00		58,235.35		58,235.35		0.00
M-5	4.12000%		14,698,000.00		52,145.24		0.00		0.00		0.00		52,145.24		52,145.24		0.00
M-6	4.17000%		14,698,000.00		52,778.07		0.00		0.00		0.00		52,778.07		52,778.07		0.00
B-1	4.66000%		12,400,000.00		49,758.44		0.00		0.00		0.00		49,758.44		49,758.44		0.00
B-2	4.74000%		11,942,000.00		48,743.26		0.00		0.00		0.00		48,743.26		48,743.26		0.00
B-3	5.13000%		10,105,000.00		44,638.84		0.00		0.00		0.00		44,638.84		44,638.84		0.00
X	90.51970%		28,476,827.70		0.00		0.00		0.00		0.00		0.00		2,219,697.98		0.00
P	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		515,027.63		0.00
R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

Total			887,998,101.97		2,768,654.93		0.00		0.00		0.00		2,768,654.93		5,503,380.54		0.00



Page 3 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution
Collection Account Report
SUMMARY
SUMMARY
										Group 2		Group 1		Total
Principal Collections										13,098,173.34		6,854,541.62		19,952,714.96
Principal Withrawals										0.00		0.00		0.00
Principal Other Accounts										0.00		0.00		0.00
TOTAL NET PRINCIPAL										13,098,173.34		6,854,541.62		19,952,714.96
Interest Collections										3,203,072.28		1,854,571.64		5,057,643.92
Interest Withdrawals										-0.00		-0.00		-0.00
Interest Other Accounts										321,210.76		193,816.87		515,027.63
Interest Fees										-44,868.30		-24,422.70		-69,291.00
TOTAL NET INTEREST										3,479,414.74		2,023,965.81		5,503,380.55
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION										16,577,588.08		8,878,507.43		25,456,095.51



PRINCIPAL - COLLECTIONS
PRINCIPAL - COLLECTIONS
											Group 2		Group 1		Total
Scheduled Principal Received											261,113.27		186,728.57		447,841.84
Prepayments In Full											12,581,976.22		6,655,199.53		19,237,175.75
Curtailments											255,083.85		12,613.52		267,697.37
Liquidations											0.00		0.00		0.00
Insurance Principal											0.00		0.00		0.00
Repurchased Principal Amounts											0.00		0.00		0.00
Other Principal											0.00		0.00		0.00
Total Realized Loss Of Principal											-0.00		-0.00		-0.00
Delinquent Principal											-221,441.48		-156,618.44		-378,059.92
Advanced Principal											221,441.48		156,618.44		378,059.92
TOTAL PRINCIPAL COLLECTED											13,098,173.34		6,854,541.62		19,952,714.96


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



PRINCIPAL - OTHER ACCOUNTS
PRINCIPAL - OTHER ACCOUNTS
										Group 2		Group 1		Total
Closing Deposit										0.00		0.00		0.00
TOTAL OTHER ACCOUNTS PRINCIPAL										0.00		0.00		0.00





Page 4 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution

INTEREST - COLLECTIONS
INTEREST - COLLECTIONS
										Group 2		Group 1		Total
Scheduled Interest										3,397,834.11		1,963,991.85		5,361,825.96
Liquidation Interest										0.00		0.00		0.00
Repurchased Interest										0.00		0.00		0.00
Insurance Interest										0.00		0.00		0.00
Other Interest										0.00		0.00		0.00
Relief Act Interest Shortfalls										-0.00		-0.00		-0.00
Prepayment Interest Shortfalls										#######		-9,261.24		-20,671.50
Compensating Interest										11,410.26		9,261.24		20,671.50
Delinquent Interest										-2,799,585.11		-1,626,268.44		-4,425,853.55
Interest Advanced										2,604,823.27		1,516,848.23		4,121,671.50
TOTAL INTEREST COLLECTED										3,203,072.28		1,854,571.64		5,057,643.92


INTEREST - WITHDRAWALS
INTEREST - WITHDRAWALS
										Group 2		Group 1		Total
Nonrecoverable Advances
TOTAL INTEREST WITHDRAWALS										0.00		0.00		0.00



INTEREST - OTHER ACCOUNTS
INTEREST - OTHER ACCOUNTS
										Group 2		Group 1		Total
Prepayment Charges										321,210.76		193,816.87		515,027.63
TOTAL INTEREST OTHER ACCOUNTS										321,210.76		193,816.87		515,027.63



INTEREST - FEES
INTEREST - FEES
										Group 2		Group 1		Total
Current Servicing Fees										42,618.05		23,199.11		65,817.16
Current Trustee Fees										2,250.25		1,223.59		3,473.84
TOTAL INTEREST OTHER FEES										44,868.30		24,422.70		69,291.00




Page 5 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution
Credit Enhancement Report
ACCOUNTS
ACCOUNTS
										Group 2		Group 1		Total
Excess Reserve Fund Account Balance														0.00



INSURANCE

SPACE INTENTIONALLY LEFT BLANK



STRUCTURAL FEATURES
STRUCTURAL FEATURES
										Group 2		Group 1		Total
Specified Subordinated Target Amount														28,476,827.70
Subordinated Amount														28,476,827.70
Subordinated Deficiency Amount														0.01
Subordinated Release Amount														0.00




Page 6 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution
Collateral Report


COLLATERAL



											Group 2		Group 1		Total



Loan Count:


Original										3,029		2,893		5,922
Prior										2,941		2,824		5,765
Prefunding										0		0		0
Scheduled Paid Offs										-0		-0		-0
Full Voluntary Prepayments										-53		-43		-96
Repurchases										-0		-0		-0
Liquidations										-0		-0		-0
Current										2,888		2,781		5,669
Principal Balance:


Original										589,506,120.12		329,081,324.57		918,587,444.69
Prior										569,711,725.96		318,286,376.00		887,998,101.96
Prefunding										0.00		0.00		918,607,345.00
Scheduled Principal										-261,113.27		-186,728.57		-447,841.84
Partial Prepayments										-255,083.85		-12,613.52		-267,697.37
Full Voluntary Prepayments										-12,581,976.22		-6,655,199.53		-19,237,175.75
Repurchases										-0.00		-0.00		-0.00
Liquidations										-0.00		-0.00		-0.00
Current										556,613,552.62		311,431,834.38		868,045,387.00





PREFUNDING
PREFUNDING
										Group 2		Group 1		Total
Closing Date Deposit Amount										0.00		0.00		0.00
Total Original Principal Balance										0.00		0.00		918,607,345.00






Page 7 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution

CHARACTERISTICS
CHARACTERISTICS
										Group 2		Group 1		Total
Weighted Average Coupon Original										7.16413%		7.41938%		7.25557%
Weighted Average Coupon Prior										7.16169%		7.41980%		7.25382%
Weighted Average Coupon Current										7.15695%		7.42408%		7.25270%
Weighted Average Months to Maturity Original										351		343		348
Weighted Average Months to Maturity Prior										350		341		347
Weighted Average Months to Maturity Current										349		340		346
Weighted Avg Remaining Amortization Term Original										351		343		348
Weighted Avg Remaining Amortization Term Prior										350		341		347
Weighted Avg Remaining Amortization Term Current										349		340		346
Weighted Average Seasoning Original										4.05		4.37		4.17
Weighted Average Seasoning Prior										5.05		5.35		5.16
Weighted Average Seasoning Current										6.04		6.33		6.14









Page 8 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution

ARM CHARACTERISTICS
ARM CHARACTERISTICS
										Group 2		Group 1		Total
Weighted Average Margin Original										6.36639%		6.41298%		6.38286%
Weighted Average Margin Prior										6.36447%		6.41323%		6.38164%
Weighted Average Margin Current										6.36056%		6.41235%		6.37886%
Weighted Average Max Rate Original										13.80902%		13.76266%		13.79263%
Weighted Average Max Rate Prior										13.80765%		13.76285%		13.79188%
Weighted Average Max Rate Current										13.80503%		13.76513%		13.79093%
Weighted Average Min Rate Original										7.00401%		7.15877%		7.05872%
Weighted Average Min Rate Prior										7.00073%		7.15807%		7.05612%
Weighted Average Min Rate Current										6.99529%		7.15907%		7.05317%
Weighted Average Cap Up Original										1.15781%		1.24236%		1.18770%
Weighted Average Cap Up Prior										1.15768%		1.24246%		1.18753%
Weighted Average Cap Up Current										1.15886%		1.24228%		1.18834%
Weighted Average Cap Down Original										1.15781%		1.24236%		1.18770%
Weighted Average Cap Down Prior										1.15768%		1.24246%		1.18753%
Weighted Average Cap Down Current										1.15886%		1.24228%		1.18834%




SERVICING FEES & ADVANCES

											Group 2		Group 1		Total




Current Servicing Fees										42,618.05		23,199.11		65,817.16
Delinquent Servicing Fees										194,761.84		109,420.22		304,182.06
TOTAL SERVICING FEES										237,379.89		132,619.33		369,999.22


Compensating Interest										-11,410.26		-9,261.24		-20,671.50
Delinquent Servicing Fees										-194,761.84		-109,420.22		-304,182.06
COLLECTED SERVICING FEES										-31,207.80		-13,937.88		-45,145.68


Aggregate Advances with respect to this Distribution										2,826,264.75		1,673,466.66		4,499,731.42





ADDITIONAL COLLATERAL INFORMATION
										Group 2		Group 1		Total
Net Prepayment Interest Shortfall										0.00		0.00		0.00
Libor For Current Period														3.460000%
Libor For Next Period														0.000000%




Page 9 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				10,526,587.66		3,280,639.05		731,590.34		14,538,817.05
			% Balance				1.21%		0.38%		0.08%		1.67%
			# Loans				70		25		7		102
			% # Loans				1.23%		0.44%		0.12%		1.80%
	FORECLOSURE		Balance		0.00		0.00		2,921,861.00		3,117,647.08		6,039,508.08
			% Balance		0.00%		0.00%		0.34%		0.36%		0.70%
			# Loans		0		0		18		25		43
			% # Loans		0.00%		0.00%		0.32%		0.44%		0.76%
	BANKRUPTCY		Balance		1,420,952.45		103,065.54		133,814.56		336,236.43		1,994,068.98
			% Balance		0.16%		0.01%		0.02%		0.04%		0.23%
			# Loans		16		1		1		3		21
			% # Loans		0.28%		0.02%		0.02%		0.05%		0.37%
	REO		Balance		0.00		0.00		0.00		65,050.42		65,050.42
			% Balance		0.00%		0.00%		0.00%		0.01%		0.01%
			# Loans		0		0		0		1		1
			% # Loans		0.00%		0.00%		0.00%		0.02%		0.02%
	TOTAL		Balance		1,420,952.45		10,629,653.20		6,336,314.61		4,250,524.27		22,637,444.53
			% Balance		0.16%		1.22%		0.73%		0.49%		2.61%
			# Loans		16		71		44		36		167
			% # Loans		0.28%		1.25%		0.78%		0.64%		2.95%









Page 10 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				3,389,360.85		1,062,951.92		178,625.66		4,630,938.43
			% Balance				1.09%		0.34%		0.06%		1.49%
			# Loans				34		10		3		47
			% # Loans				1.22%		0.36%		0.11%		1.69%
	FORECLOSURE		Balance		0.00		0.00		1,426,989.16		1,421,625.13		2,848,614.29
			% Balance		0.00%		0.00%		0.46%		0.46%		0.91%
			# Loans		0		0		11		14		25
			% # Loans		0.00%		0.00%		0.40%		0.50%		0.90%
	BANKRUPTCY		Balance		789,107.80		0.00		133,814.56		0.00		922,922.36
			% Balance		0.25%		0.00%		0.04%		0.00%		0.30%
			# Loans		9		0		1		0		10
			% # Loans		0.32%		0.00%		0.04%		0.00%		0.36%
	REO		Balance		0.00		0.00		0.00		65,050.42		65,050.42
			% Balance		0.00%		0.00%		0.00%		0.02%		0.02%
			# Loans		0		0		0		1		1
			% # Loans		0.00%		0.00%		0.00%		0.04%		0.04%
	TOTAL		Balance		789,107.80		3,389,360.85		2,623,755.64		1,665,301.21		8,467,525.50
			% Balance		0.25%		1.09%		0.84%		0.53%		2.72%
			# Loans		9		34		22		18		83
			% # Loans		0.32%		1.22%		0.79%		0.65%		2.98%










Page 11 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				7,137,226.81		2,217,687.13		552,964.68		9,907,878.62
			% Balance				1.28%		0.40%		0.10%		1.78%
			# Loans				36		15		4		55
			% # Loans				1.25%		0.52%		0.14%		1.90%
	FORECLOSURE		Balance		0.00		0.00		1,494,871.84		1,696,021.95		3,190,893.79
			% Balance		0.00%		0.00%		0.27%		0.30%		0.57%
			# Loans		0		0		7		11		18
			% # Loans		0.00%		0.00%		0.24%		0.38%		0.62%
	BANKRUPTCY		Balance		631,844.65		103,065.54		0.00		336,236.43		1,071,146.62
			% Balance		0.11%		0.02%		0.00%		0.06%		0.19%
			# Loans		7		1		0		3		11
			% # Loans		0.24%		0.03%		0.00%		0.10%		0.38%
	REO		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		631,844.65		7,240,292.35		3,712,558.97		2,585,223.06		14,169,919.03
			% Balance		0.11%		1.30%		0.67%		0.46%		2.55%
			# Loans		7		37		22		18		84
			% # Loans		0.24%		1.28%		0.76%		0.62%		2.91%









Page 12 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution
REO Report
Loan Number			Original		Stated				Current		State &

														First
&			Principal		Principal		Paid to		Note		LTV at		Original		Payment

Loan Group			Balance		Balance		Date		Rate		Origination		Term		Date
322597170 1
322597170 1			65,850.00		65,050.42		01-Feb-2005		6.500%		AZ - 79.97%		360		01-Aug-2004



TOTAL			65,850.00		65,050.42


Page 13 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution
Foreclosure Report
Loan Number			Original		Stated				Current		State &

														First
&			Principal		Principal		Paid to		Note		LTV at		Original		Payment

Loan Group			Balance		Balance		Date		Rate		Origination		Term		Date
19155548 1
19155548 1			76,500.00		76,021.50		01-Mar-2005		8.500%		PA - 85.00%		360		01-Nov-2004

19157692 1			93,750.00		92,998.45		01-Feb-2005		7.250%		FL - 75.00%		360		01-Nov-2004
19644798 1			69,000.00		68,827.68		01-Apr-2005		11.125%		FL - 20.00%		180		01-Feb-2005
322243734 1			48,000.00		47,599.00		01-Apr-2005		8.000%		MO - 80.00%		360		01-Sep-2004
322554338 1			67,200.00		66,540.97		01-Apr-2005		7.450%		TX - 80.00%		360		01-Oct-2004
322587064 1			73,600.00		72,915.35		01-Feb-2005		6.990%		AZ - 80.00%		360		01-Oct-2004
322592213 1			118,500.00		117,175.51		01-Mar-2005		6.500%		MO - 79.00%		360		01-Sep-2004
322964438 1			70,400.00		69,929.55		01-Feb-2005		7.625%		OH - 80.00%		360		01-Dec-2004
322964859 1			53,920.00		53,608.57		01-Apr-2005		7.750%		MO - 80.00%		360		01-Jan-2005
322965336 1			63,750.00		63,399.64		01-Mar-2005		7.999%		NE - 85.00%		360		01-Jan-2005
323067082 1			85,500.00		85,165.58		01-Feb-2005		8.999%		WI - 75.00%		360		01-Feb-2005
323068114 1			74,080.00		73,765.26		01-Mar-2005		9.875%		IN - 80.00%		360		01-Feb-2005
323077248 1			90,400.00		89,955.86		01-Mar-2005		7.875%		TX - 80.00%		360		01-Feb-2005
323195131 1			111,720.00		111,346.87		01-Apr-2005		8.999%		IN - 80.00%		360		01-Mar-2005
323209791 1			94,500.00		94,144.93		01-Apr-2005		7.500%		MO - 90.00%		360		01-Apr-2005
323211839 1			322,000.00		320,342.39		01-Apr-2005		5.875%		CA - 64.92%		360		01-Apr-2005
323214627 1			230,000.00		230,000.00		01-Apr-2005		6.250%		CA - 74.68%		360		01-Apr-2005
323256347 1			204,000.00		203,117.31		01-Apr-2005		6.790%		CT - 80.00%		360		01-Apr-2005
402136342 1			153,000.00		151,747.50		01-Mar-2005		9.600%		IN - 90.00%		360		01-May-2004
409226157 1			50,000.00		49,689.20		01-Mar-2005		7.990%		TX - 79.37%		360		01-Dec-2004
409249506 1			97,750.00		97,010.37		01-Feb-2005		6.990%		OH - 85.00%		360		01-Dec-2004
409305930 1			123,250.00		122,575.92		01-Apr-2005		8.625%		CT - 85.00%		360		01-Dec-2004
410086242 1			109,600.00		108,885.52		01-Apr-2005		7.750%		AZ - 80.00%		360		01-Dec-2004
410212584 1			272,631.30		272,002.40		01-Feb-2005		7.250%		CA - 80.00%		360		01-Dec-2004
411026392 1			110,500.00		109,848.96		01-Mar-2005		7.650%		WA - 85.00%		360		01-Jan-2005
19146711 2			100,000.00		99,133.42		01-Mar-2005		7.375%		NC - 80.00%		360		01-Oct-2004
19647809 2			158,400.00		157,561.49		01-Mar-2005		7.500%		MA - 90.00%		360		01-Feb-2005
322963927 2			179,070.00		178,170.78		01-Apr-2005		8.875%		AZ - 95.00%		360		01-Jan-2005
322964149 2			193,520.00		191,841.59		01-Apr-2005		5.749%		IN - 80.00%		360		01-Jan-2005
322964594 2			101,900.00		101,900.00		#######		8.625%		OK - 94.97%		360		01-Jan-2005
323067561 2			58,500.00		58,257.50		01-Mar-2005		9.250%		IN - 90.00%		360		01-Feb-2005
323069369 2			415,200.00		413,108.55		01-Mar-2005		7.750%		MA - 80.00%		360		01-Feb-2005
323069377 2			103,800.00		103,479.00		01-Apr-2005		10.125%		MA - 20.00%		180		01-Feb-2005
323072603 2			348,000.00		345,479.62		01-Apr-2005		5.875%		MD - 80.00%		360		01-Feb-2005
323196170 2			496,800.00		496,800.00		01-Apr-2005		7.625%		CA - 80.00%		360		01-Mar-2005
323278366 2			133,000.00		132,524.54		01-Apr-2005		7.750%		MI - 85.81%		360		01-Apr-2005
410143974 2			46,750.00		46,576.31		01-Apr-2005		9.250%		OK - 85.00%		360		01-Feb-2005
411026511 2			151,920.00		151,145.80		01-Mar-2005		8.375%		NH - 80.00%		360		01-Jan-2005
412021715 2			81,600.00		81,312.26		01-Feb-2005		9.500%		MO - 85.00%		360		01-Feb-2005
412065111 2			73,100.00		72,789.05		01-Mar-2005		8.590%		FL - 85.00%		360		01-Feb-2005
412077108 2			220,000.00		218,910.31		01-Mar-2005		7.990%		NY - 67.18%		360		01-Feb-2005
412078251 2			75,650.00		75,322.24		01-Mar-2005		8.500%		ID - 85.00%		360		01-Feb-2005
412157532 2			268,000.00		266,581.33		01-Jan-2005		7.500%		CA - 80.00%		360		01-Feb-2005


TOTAL			6,068,761.30		6,039,508.08


Page 14 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS
VOLUNTARY PREPAYMENTS

											Group 2		Group 1		Total




Current


Number of Paid in Full Loans										53		43		96
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										53		43		96
Curtailments Amount										255,083.85		12,613.52		267,697.37
Paid in Full Balance										12,581,976.22		6,655,199.53		19,237,175.75
Repurchased Loans Balance										0.00		0.00		0.00
Total Prepayment Amount										12,837,060.07		6,667,813.05		19,504,873.12

Cumulative


Number of Paid in Full Loans										141		112		253
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										141		112		253
Paid in Full Balance										31,792,906.03		17,028,047.49		48,820,953.52
Repurchased Loans Balance										0.00		0.00		0.00
Curtailments Amount										302,743.17		54,126.24		356,869.41
Total Prepayment Amount										32,095,649.20		17,082,173.73		49,177,822.93










Page 15 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES
VOLUNTARY PREPAYMENTS RATES

											Group 2		Group 1		Total



SMM										2.25%		2.10%		2.20%
3 Months Avg SMM										1.85%		1.76%		1.82%
12 Months Avg SMM										1.85%		1.76%		1.82%
Avg SMM Since Cut-off										1.85%		1.76%		1.82%


CPR										23.94%		22.45%		23.41%
3 Months Avg CPR										20.08%		19.22%		19.78%
12 Months Avg CPR										20.08%		19.22%		19.78%
Avg CPR Since Cut-off										20.08%		19.22%		19.78%


PSA										1,982.69%		1,772.11%		1,905.09%
3 Months Avg PSA Approximation										1,989.99%		1,795.90%		1,917.92%
12 Months Avg PSA Approximation										1,989.99%		1,795.90%		1,917.92%
Avg PSA Since Cut-off Approximation										1,989.99%		1,795.90%		1,917.92%










Page 16 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution






PREPAYMENT CALCULATION METHODOLOGY

Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases + Liquidations )/(Beg Principal Balance - Sched Principal) Conditional Prepayment Rate (CPR): 1-((1-SMM)^12) PSA Standard Prepayment Model: CPR/(0.002min(30,WAS)) Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn)(1-SMMn+1)...(1-SMMm)]^(1/months in period n,m) Conditional Prepayment Rate (CPR): 1-((1-SMM)^12) Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.002*Avg WASn,m)) Average WASn,m: (min(30,WASn)+min(30,WASn+1)+...+min(30,WASm)/(number of months in the period n,m) Weighted Average Seasoning (WAS) Dates correspond to distribution dates. Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments, liquidations, and repurchases.













Page 17 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution
Prepayment Detail Report
Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First
Loan Number			Original							Current		State &		Type Prepayment

&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

19153725 2			88,400.00		87,516.42			20-Jul-2005		7.875%		FL - 80.00%		Paid Off - 360		01-Oct-2004
			88,400.00

19159177 1			202,000.00		200,569.87			22-Jul-2005		7.375%		VA - 72.14%		Paid Off - 360		01-Oct-2004
19159177 1					200,569.87			22-Jul-2005		7.375%		VA - 72.14%		Paid Off - 360		01-Oct-2004
19641448 1			238,400.00		235,095.34			14-Jul-2005		7.750%		CA - 80.00%		Paid Off - 360		01-Dec-2004
19641448 1					235,095.34			14-Jul-2005		7.750%		CA - 80.00%		Paid Off - 360		01-Dec-2004
19642255 2			169,000.00		168,217.75			15-Jul-2005		8.625%		CA - 65.00%		Paid Off - 360		01-Jan-2005
19642255 2					168,217.75			15-Jul-2005		8.625%		CA - 65.00%		Paid Off - 360		01-Jan-2005
19642933 2			456,000.00		453,369.94			29-Jul-2005		6.250%		CA - 80.00%		Paid Off - 360		01-Feb-2005
19642933 2					453,369.94			29-Jul-2005		6.250%		CA - 80.00%		Paid Off - 360		01-Feb-2005
19643253 2			287,900.00		286,688.96			15-Jul-2005		7.875%		CA - 87.24%		Paid Off - 360		01-Feb-2005
19643253 2					286,688.96			15-Jul-2005		7.875%		CA - 87.24%		Paid Off - 360		01-Feb-2005
19643477 2			479,200.00		478,903.57			29-Jul-2005		6.625%		CA - 80.00%		Paid Off - 360		01-Feb-2005
19643477 2					478,903.57			29-Jul-2005		6.625%		CA - 80.00%		Paid Off - 360		01-Feb-2005
19643550 2			109,000.00		108,635.98			14-Jul-2005		9.000%		VA - 100.00%		Paid Off - 360		01-Feb-2005
19643550 2					108,635.98			14-Jul-2005		9.000%		VA - 100.00%		Paid Off - 360		01-Feb-2005
19643881 1			288,000.00		288,000.00			05-Jul-2005		7.375%		CA - 90.00%		Paid Off - 360		01-Feb-2005
19643881 1					288,000.00			05-Jul-2005		7.375%		CA - 90.00%		Paid Off - 360		01-Feb-2005
19643915 2			200,000.00		199,026.01			18-Jul-2005		7.125%		CA - 72.73%		Paid Off - 360		01-Feb-2005
19643915 2					199,026.01			18-Jul-2005		7.125%		CA - 72.73%		Paid Off - 360		01-Feb-2005
19643949 2			184,000.00		183,079.68			20-Jul-2005		7.000%		NV - 77.31%		Paid Off - 360		01-Feb-2005
19643949 2					183,079.68			20-Jul-2005		7.000%		NV - 77.31%		Paid Off - 360		01-Feb-2005
19644202 2			480,000.00		480,000.00			27-Jul-2005		6.750%		CA - 80.00%		Paid Off - 360		01-Feb-2005
19644202 2					480,000.00			27-Jul-2005		6.750%		CA - 80.00%		Paid Off - 360		01-Feb-2005
19644814 2			149,600.00		149,037.93			22-Jul-2005		7.500%		FL - 80.00%		Paid Off - 360		01-Mar-2005
19644814 2					149,037.93			22-Jul-2005		7.500%		FL - 80.00%		Paid Off - 360		01-Mar-2005
19644863 2			66,200.00		66,035.88			27-Jul-2005		9.625%		FL - 20.00%		Paid Off - 180		01-Mar-2005
19644863 2					66,035.88			27-Jul-2005		9.625%		FL - 20.00%		Paid Off - 180		01-Mar-2005
19645027 2			167,000.00		166,234.74			28-Jul-2005		8.750%		MD - 83.50%		Paid Off - 360		01-Feb-2005
19645027 2					166,234.74			28-Jul-2005		8.750%		MD - 83.50%		Paid Off - 360		01-Feb-2005
19645076 2			244,000.00		242,782.32			28-Jul-2005		7.000%		VA - 80.00%		Paid Off - 360		01-Feb-2005
19645076 2					242,782.32			28-Jul-2005		7.000%		VA - 80.00%		Paid Off - 360		01-Feb-2005
19645530 2			229,500.00		228,585.96			12-Jul-2005		8.125%		CA - 68.51%		Paid Off - 360		01-Feb-2005
19645530 2					228,585.96			12-Jul-2005		8.125%		CA - 68.51%		Paid Off - 360		01-Feb-2005
19645936 2			147,000.00		146,545.81			07-Jul-2005		9.375%		CA - 63.91%		Paid Off - 360		01-Feb-2005
19645936 2					146,545.81			07-Jul-2005		9.375%		CA - 63.91%		Paid Off - 360		01-Feb-2005
19646306 2			60,000.00		59,543.67			26-Jul-2005		10.875%		CA - 20.00%		Paid Off - 360		01-Feb-2005
19646306 2					59,543.67			26-Jul-2005		10.875%		CA - 20.00%		Paid Off - 360		01-Feb-2005
19646462 2			388,000.00		388,000.00			15-Jul-2005		7.000%		CA - 80.00%		Paid Off - 360		01-Feb-2005
19646462 2					388,000.00			15-Jul-2005		7.000%		CA - 80.00%		Paid Off - 360		01-Feb-2005
19646553 2			183,000.00		182,163.84			18-Jul-2005		6.500%		MN - 100.00%		Paid Off - 360		01-Mar-2005
19646553 2					182,163.84			18-Jul-2005		6.500%		MN - 100.00%		Paid Off - 360		01-Mar-2005
19647833 2			260,000.00		258,361.73			31-Jul-2005		8.150%		RI - 80.00%		Paid Off - 360		01-Mar-2005
19647833 2					258,361.73			31-Jul-2005		8.150%		RI - 80.00%		Paid Off - 360		01-Mar-2005
19647965 2			275,000.00		273,558.92			12-Jul-2005		6.750%		CA - 74.32%		Paid Off - 360		01-Feb-2005
19647965 2					273,558.92			12-Jul-2005		6.750%		CA - 74.32%		Paid Off - 360		01-Feb-2005
322569682 1			320,000.00		317,509.82			19-Jul-2005		6.850%		CA - 80.00%		Paid Off - 360		01-Nov-2004
322569682 1					317,509.82			19-Jul-2005		6.850%		CA - 80.00%		Paid Off - 360		01-Nov-2004
322588641 1			268,000.00		258,412.37			01-Aug-2005		6.990%		NY - 71.47%		Paid Off - 180		01-Sep-2004
322588641 1					258,412.37			01-Aug-2005		6.990%		NY - 71.47%		Paid Off - 180		01-Sep-2004
322964305 2			336,000.00		336,000.00			19-Jul-2005		6.125%		CA - 80.00%		Paid Off - 360		01-Dec-2004
322964305 2					336,000.00			19-Jul-2005		6.125%		CA - 80.00%		Paid Off - 360		01-Dec-2004
322964628 1			156,000.00		155,920.39			03-Aug-2005		6.125%		CO - 80.00%		Paid Off - 360		01-Jan-2005
322964628 1					155,920.39			03-Aug-2005		6.125%		CO - 80.00%		Paid Off - 360		01-Jan-2005
322964743 2			596,250.00		592,227.39			04-Aug-2005		6.250%		CA - 77.44%		Paid Off - 360		01-Jan-2005
322964743 2					592,227.39			04-Aug-2005		6.250%		CA - 77.44%		Paid Off - 360		01-Jan-2005
322964776 2			108,000.00		107,683.02			05-Aug-2005		10.375%		AZ - 90.00%		Paid Off - 360		01-Jan-2005
322964776 2					107,683.02			05-Aug-2005		10.375%		AZ - 90.00%		Paid Off - 360		01-Jan-2005
322966615 2			412,000.00		409,034.40			28-Jul-2005		7.625%		CA - 80.00%		Paid Off - 360		01-Jan-2005
322966615 2					409,034.40			28-Jul-2005		7.625%		CA - 80.00%		Paid Off - 360		01-Jan-2005
322966631 1			220,000.00		220,000.00			20-Jul-2005		7.999%		FL - 80.00%		Paid Off - 360		01-Jan-2005
322966631 1					220,000.00			20-Jul-2005		7.999%		FL - 80.00%		Paid Off - 360		01-Jan-2005
322967076 1			30,350.00		30,274.19			26-Jul-2005		11.125%		AZ - 20.00%		Paid Off - 180		01-Jan-2005
322967076 1					30,274.19			26-Jul-2005		11.125%		AZ - 20.00%		Paid Off - 180		01-Jan-2005
322967084 1			121,410.00		121,410.00			26-Jul-2005		6.749%		AZ - 80.00%		Paid Off - 360		01-Jan-2005
322967084 1					121,410.00			26-Jul-2005		6.749%		AZ - 80.00%		Paid Off - 360		01-Jan-2005
322967100 2			408,500.00		408,493.18			11-Aug-2005		6.500%		CA - 95.00%		Paid Off - 360		01-Jan-2005
322967100 2					408,493.18			11-Aug-2005		6.500%		CA - 95.00%		Paid Off - 360		01-Jan-2005
323065508 1			132,800.00		132,293.91			22-Jul-2005		9.125%		CA - 79.76%		Paid Off - 360		01-Jan-2005
323065508 1					132,293.91			22-Jul-2005		9.125%		CA - 79.76%		Paid Off - 360		01-Jan-2005
323065664 1			35,000.00		34,909.65			25-Jul-2005		10.250%		MI - 70.00%		Paid Off - 360		01-Feb-2005
323065664 1					34,909.65			25-Jul-2005		10.250%		MI - 70.00%		Paid Off - 360		01-Feb-2005
323065722 1			146,400.00		145,435.55			09-Aug-2005		6.375%		WA - 80.00%		Paid Off - 360		01-Jan-2005
323065722 1					145,435.55					6.375%		WA - 80.00%		Paid Off - 360


Page 18 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First
Loan Number			Original							Current		State &		Type Prepayment

&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

323066043 2			160,000.00		159,141.21			18-Jul-2005		6.625%		AZ - 80.00%		Paid Off - 360		01-Feb-2005
			160,000.00

323066050 1			40,000.00		39,894.41			18-Jul-2005		10.125%		AZ - 20.00%		Paid Off - 180		01-Feb-2005
323066050 1					39,894.41			18-Jul-2005		10.125%		AZ - 20.00%		Paid Off - 180		01-Feb-2005
323066373 2			600,000.00		600,000.00			08-Aug-2005		8.750%		CA - 72.29%		Paid Off - 360		01-Feb-2005
323066373 2					600,000.00			08-Aug-2005		8.750%		CA - 72.29%		Paid Off - 360		01-Feb-2005
323068460 1			275,500.00		275,500.00			03-Aug-2005		6.375%		CA - 95.00%		Paid Off - 360		01-Feb-2005
323068460 1					275,500.00			03-Aug-2005		6.375%		CA - 95.00%		Paid Off - 360		01-Feb-2005
323068932 2			279,990.20		279,990.20			03-Aug-2005		7.625%		MD - 80.00%		Paid Off - 360		01-Feb-2005
323068932 2					279,990.20			03-Aug-2005		7.625%		MD - 80.00%		Paid Off - 360		01-Feb-2005
323069302 1			34,000.00		33,905.39			15-Aug-2005		9.875%		AZ - 20.00%		Paid Off - 180		01-Feb-2005
323069302 1					33,905.39			15-Aug-2005		9.875%		AZ - 20.00%		Paid Off - 180		01-Feb-2005
323069393 1			153,000.00		152,272.97			01-Aug-2005		7.250%		MO - 90.00%		Paid Off - 360		01-Feb-2005
323069393 1					152,272.97			01-Aug-2005		7.250%		MO - 90.00%		Paid Off - 360		01-Feb-2005
323071654 1			153,000.00		152,320.23			15-Jul-2005		7.590%		MD - 90.00%		Paid Off - 360		01-Feb-2005
323071654 1					152,320.23			15-Jul-2005		7.590%		MD - 90.00%		Paid Off - 360		01-Feb-2005
323071712 2			187,000.00		185,981.72			25-Jul-2005		6.550%		MD - 74.80%		Paid Off - 360		01-Feb-2005
323071712 2					185,981.72			25-Jul-2005		6.550%		MD - 74.80%		Paid Off - 360		01-Feb-2005
323072652 1			157,000.00		156,282.61			25-Jul-2005		6.500%		NJ - 65.42%		Paid Off - 360		01-Mar-2005
323072652 1					156,282.61			25-Jul-2005		6.500%		NJ - 65.42%		Paid Off - 360		01-Mar-2005
323073452 1			52,500.00		51,897.01			27-Jul-2005		9.500%		TN - 70.00%		Paid Off - 360		01-Feb-2005
323073452 1					51,897.01			27-Jul-2005		9.500%		TN - 70.00%		Paid Off - 360		01-Feb-2005
323074112 1			115,000.00		114,283.71			04-Aug-2005		5.850%		CA - 72.78%		Paid Off - 360		01-Feb-2005
323074112 1					114,283.71			04-Aug-2005		5.850%		CA - 72.78%		Paid Off - 360		01-Feb-2005
323074336 1			312,000.00		312,000.00			01-Aug-2005		6.200%		NH - 80.00%		Paid Off - 360		01-Feb-2005
323074336 1					312,000.00			01-Aug-2005		6.200%		NH - 80.00%		Paid Off - 360		01-Feb-2005
323074401 1			338,400.00		336,539.44			21-Jul-2005		6.500%		MA - 90.00%		Paid Off - 360		01-Feb-2005
323074401 1					336,539.44			21-Jul-2005		6.500%		MA - 90.00%		Paid Off - 360		01-Feb-2005
323075309 1			102,000.00		101,514.35			20-Jul-2005		7.240%		IL - 85.00%		Paid Off - 360		01-Feb-2005
323075309 1					101,514.35			20-Jul-2005		7.240%		IL - 85.00%		Paid Off - 360		01-Feb-2005
323076901 1			148,000.00		148,000.00			15-Aug-2005		7.050%		AZ - 80.00%		Paid Off - 360		01-Feb-2005
323076901 1					148,000.00			15-Aug-2005		7.050%		AZ - 80.00%		Paid Off - 360		01-Feb-2005
323076919 1			37,000.00		36,917.40			15-Aug-2005		10.910%		AZ - 20.00%		Paid Off - 180		01-Feb-2005
323076919 1					36,917.40			15-Aug-2005		10.910%		AZ - 20.00%		Paid Off - 180		01-Feb-2005
323195305 1			145,000.00		144,647.09			28-Jul-2005		9.625%		NM - 100.00%		Paid Off - 360		01-Mar-2005
323195305 1					144,647.09			28-Jul-2005		9.625%		NM - 100.00%		Paid Off - 360		01-Mar-2005
323195701 2			476,800.00		474,774.05			01-Aug-2005		6.875%		CA - 80.00%		Paid Off - 360		01-Mar-2005
323195701 2					474,774.05			01-Aug-2005		6.875%		CA - 80.00%		Paid Off - 360		01-Mar-2005
323196709 2			314,400.00		314,400.00			25-Jul-2005		7.999%		CA - 80.00%		Paid Off - 360		01-Feb-2005
323196709 2					314,400.00			25-Jul-2005		7.999%		CA - 80.00%		Paid Off - 360		01-Feb-2005
323196881 1			143,400.00		142,749.44			28-Jul-2005		7.250%		DC - 100.00%		Paid Off - 360		01-Mar-2005
323196881 1					142,749.44			28-Jul-2005		7.250%		DC - 100.00%		Paid Off - 360		01-Mar-2005
323196899 1			39,050.00		38,894.08			08-Aug-2005		8.125%		NM - 100.00%		Paid Off - 360		01-Feb-2005
323196899 1					38,894.08			08-Aug-2005		8.125%		NM - 100.00%		Paid Off - 360		01-Feb-2005
323198358 2			167,000.00		167,000.00			01-Aug-2005		8.999%		CA - 100.00%		Paid Off - 360		01-Mar-2005
323198358 2					167,000.00			01-Aug-2005		8.999%		CA - 100.00%		Paid Off - 360		01-Mar-2005
323199323 1			74,100.00		73,854.34			02-Aug-2005		8.125%		IN - 95.00%		Paid Off - 360		01-Mar-2005
323199323 1					73,854.34			02-Aug-2005		8.125%		IN - 95.00%		Paid Off - 360		01-Mar-2005
323199349 2			247,000.00		245,924.66			01-Aug-2005		6.750%		KS - 100.00%		Paid Off - 360		01-Mar-2005
323199349 2					245,924.66			01-Aug-2005		6.750%		KS - 100.00%		Paid Off - 360		01-Mar-2005
323200006 1			100,000.00		99,818.44			09-Aug-2005		11.000%		FL - 100.00%		Paid Off - 360		01-Mar-2005
323200006 1					99,818.44			09-Aug-2005		11.000%		FL - 100.00%		Paid Off - 360		01-Mar-2005
323201251 2			92,700.00		92,330.84			22-Jul-2005		7.245%		VA - 90.00%		Paid Off - 360		01-Mar-2005
323201251 2					92,330.84			22-Jul-2005		7.245%		VA - 90.00%		Paid Off - 360		01-Mar-2005
323201830 1			213,500.00		213,499.71			01-Aug-2005		5.900%		CA - 70.00%		Paid Off - 360		01-Apr-2005
323201830 1					213,499.71			01-Aug-2005		5.900%		CA - 70.00%		Paid Off - 360		01-Apr-2005
323201848 1			87,800.00		87,271.53			29-Jul-2005		6.000%		MD - 44.12%		Paid Off - 360		01-Apr-2005
323201848 1					87,271.53			29-Jul-2005		6.000%		MD - 44.12%		Paid Off - 360		01-Apr-2005
323203091 1			142,000.00		141,386.05			18-Jul-2005		7.750%		CT - 71.00%		Paid Off - 360		01-Feb-2005
323203091 1					141,386.05			18-Jul-2005		7.750%		CT - 71.00%		Paid Off - 360		01-Feb-2005
323203174 2			283,000.00		281,988.31			27-Jul-2005		7.750%		RI - 100.00%		Paid Off - 360		01-Mar-2005
323203174 2					281,988.31			27-Jul-2005		7.750%		RI - 100.00%		Paid Off - 360		01-Mar-2005
323203430 2			22,600.00		22,559.18			11-Aug-2005		10.350%		OH - 20.00%		Paid Off - 180		01-Apr-2005
323203430 2					22,559.18			11-Aug-2005		10.350%		OH - 20.00%		Paid Off - 180		01-Apr-2005
323204156 1			120,000.00		119,501.39			28-Jul-2005		6.990%		FL - 67.80%		Paid Off - 360		01-Mar-2005
323204156 1					119,501.39			28-Jul-2005		6.990%		FL - 67.80%		Paid Off - 360		01-Mar-2005
323205286 2			200,000.00		199,140.96			09-Aug-2005		7.250%		NV - 51.28%		Paid Off - 360		01-Mar-2005
323205286 2					199,140.96			09-Aug-2005		7.250%		NV - 51.28%		Paid Off - 360		01-Mar-2005
323205591 2			252,000.00		251,141.49			01-Aug-2005		7.990%		AZ - 90.00%		Paid Off - 360		01-Mar-2005
323205591 2					251,141.49			01-Aug-2005		7.990%		AZ - 90.00%		Paid Off - 360		01-Mar-2005
323207803 1			270,000.00		269,999.99			15-Aug-2005		7.375%		CA - 61.36%		Paid Off - 360		01-Apr-2005
323207803 1					269,999.99			15-Aug-2005		7.375%		CA - 61.36%		Paid Off - 360		01-Apr-2005
323208496 1			120,000.00		119,960.00			12-Aug-2005		7.999%		AZ - 80.00%		Paid Off - 360		01-Apr-2005
323208496 1					119,960.00			12-Aug-2005		7.999%		AZ - 80.00%		Paid Off - 360		01-Apr-2005
323208603 2			500,000.00		499,219.15			09-Aug-2005		7.999%		CA - 78.74%		Paid Off - 360		01-Mar-2005
323208603 2					499,219.15					7.999%		CA - 78.74%		Paid Off - 360


Page 19 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First
Loan Number			Original							Current		State &		Type Prepayment

&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

323208611 2			71,500.00		70,910.09			11-Aug-2005		11.875%		CA - 11.26%		Paid Off - 240		01-Mar-2005
			71,500.00

323210666 1			266,000.00		264,870.93			05-Aug-2005		7.500%		CA - 95.00%		Paid Off - 360		01-Mar-2005
323210666 1					264,870.93			05-Aug-2005		7.500%		CA - 95.00%		Paid Off - 360		01-Mar-2005
323256370 2			202,500.00		201,876.24			03-Aug-2005		8.490%		VA - 90.00%		Paid Off - 360		01-Mar-2005
323256370 2					201,876.24			03-Aug-2005		8.490%				Paid Off - 360		01-Mar-2005
323256636 1			102,500.00		102,114.90			15-Aug-2005		7.500%		FL - 89.91%		Paid Off - 360		01-Mar-2005
323256636 1					102,114.90			15-Aug-2005		7.500%		FL - 89.91%		Paid Off - 360		01-Mar-2005
323257899 1			124,000.00		124,000.00			26-Jul-2005		6.990%		AZ - 80.00%		Paid Off - 360		01-Apr-2005
323257899 1					124,000.00			26-Jul-2005		6.990%		AZ - 80.00%		Paid Off - 360		01-Apr-2005
323268912 2			197,200.00		196,630.92			03-Aug-2005		8.400%		NJ - 77.64%		Paid Off - 360		01-Apr-2005
323268912 2					196,630.92			03-Aug-2005		8.400%		NJ - 77.64%		Paid Off - 360		01-Apr-2005
323270066 2			89,250.00		89,007.58			09-Aug-2005		7.990%		FL - 85.00%		Paid Off - 360		01-Apr-2005
323270066 2					89,007.58			09-Aug-2005		7.990%		FL - 85.00%		Paid Off - 360		01-Apr-2005
323270884 2			139,100.00		138,706.63			02-Aug-2005		7.790%		FL - 79.99%		Paid Off - 360		01-Apr-2005
323270884 2					138,706.63			02-Aug-2005		7.790%		FL - 79.99%		Paid Off - 360		01-Apr-2005
323270900 1			34,800.00		34,753.86			02-Aug-2005		11.400%		FL - 20.01%		Paid Off - 360		01-Apr-2005
323270900 1					34,753.86			02-Aug-2005		11.400%		FL - 20.01%		Paid Off - 360		01-Apr-2005
323273896 2			180,000.00		180,000.00			04-Aug-2005		7.750%		IL - 90.00%		Paid Off - 360		01-May-2005
323273896 2					180,000.00			04-Aug-2005		7.750%		IL - 90.00%		Paid Off - 360		01-May-2005
323273995 2			299,250.00		298,210.67			29-Jul-2005		6.750%		CA - 95.00%		Paid Off - 360		01-Apr-2005
323273995 2					298,210.67			29-Jul-2005		6.750%		CA - 95.00%		Paid Off - 360		01-Apr-2005
323277285 2			200,000.00		200,000.00			28-Jul-2005		6.750%		CA - 80.00%		Paid Off - 360		01-Apr-2005
323277285 2					200,000.00			28-Jul-2005		6.750%		CA - 80.00%		Paid Off - 360		01-Apr-2005
323277293 2			50,000.00		49,895.11			28-Jul-2005		9.250%		CA - 20.00%		Paid Off - 360		01-Apr-2005
323277293 2					49,895.11			28-Jul-2005		9.250%		CA - 20.00%		Paid Off - 360		01-Apr-2005
323278200 2			323,000.00		322,053.38			15-Aug-2005		6.125%		CA - 85.00%		Paid Off - 360		01-May-2005
323278200 2					322,053.38			15-Aug-2005		6.125%		CA - 85.00%		Paid Off - 360		01-May-2005
323278689 2			123,750.00		123,388.33			27-Jul-2005		7.625%		IL - 75.00%		Paid Off - 360		01-Apr-2005
323278689 2					123,388.33			27-Jul-2005		7.625%		IL - 75.00%		Paid Off - 360		01-Apr-2005
323279091 2			232,500.00		231,881.21			28-Jul-2005		6.625%		FL - 75.00%		Paid Off - 360		01-May-2005
323279091 2					231,881.21			28-Jul-2005		6.625%		FL - 75.00%		Paid Off - 360		01-May-2005
323279745 2			188,000.00		187,570.35			27-Jul-2005		7.400%		RI - 80.00%		Paid Off - 360		01-May-2005
323279745 2					187,570.35			27-Jul-2005		7.400%		RI - 80.00%		Paid Off - 360		01-May-2005
409237626 2			58,750.00		58,526.84			25-Jul-2005		9.990%		TX - 100.00%		Paid Off - 360		01-Jan-2005
409237626 2					58,526.84			25-Jul-2005		9.990%		TX - 100.00%		Paid Off - 360		01-Jan-2005
410142987 1			327,250.00		325,225.97			06-Jul-2005		6.990%		NJ - 85.00%		Paid Off - 360		01-Jan-2005
410142987 1					325,225.97			06-Jul-2005		6.990%		NJ - 85.00%		Paid Off - 360		01-Jan-2005
410224722 1			147,200.00		146,493.20			18-Jul-2005		7.990%		NJ - 80.00%		Paid Off - 360		01-Jan-2005
410224722 1					146,493.20			18-Jul-2005		7.990%		NJ - 80.00%		Paid Off - 360		01-Jan-2005
412065612 1			155,000.00		155,000.00			01-Jul-2005		6.625%		NY - 61.39%		Paid Off - 360		01-Feb-2005
412065612 1					155,000.00			01-Jul-2005		6.625%		NY - 61.39%		Paid Off - 360		01-Feb-2005


TOTAL			19,308,200.20		19,237,175.75
TOTAL


Page 20 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



											Group 2		Group 1		Total


Current
Current



Number of Loans Liquidated										0		0		0
Collateral Principal Realized Loss/(Gain) Amount										0.00		0.00		0.00
Collateral Interest Realized Loss/(Gain) Amount										0.00		0.00		0.00
Net Liquidation Proceeds										0.00		0.00		0.00

Cumulative
Cumulative



Number of Loans Liquidated										0		0		0
Collateral Realized Loss/(Gain) Amount										0.00		0.00		0.00
Net Liquidation Proceeds										0.00		0.00		0.00










Page 21 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution


DEFAULT SPEEDS



											Group 2		Group 1		Total



MDR										0.00%		0.00%		0.00%
3 Months Avg MDR										0.00%		0.00%		0.00%
12 Months Avg MDR										0.00%		0.00%		0.00%
Avg MDR Since Cut-off										0.00%		0.00%		0.00%


CDR										0.00%		0.00%		0.00%
3 Months Avg CDR										0.00%		0.00%		0.00%
12 Months Avg CDR										0.00%		0.00%		0.00%
Avg CDR Since Cut-off										0.00%		0.00%		0.00%


SDA										0.00%		0.00%		0.00%
3 Months Avg SDA Approximation										0.00%		0.00%		0.00%
12 Months Avg SDA Approximation										0.00%		0.00%		0.00%
Avg SDA Since Cut-off Approximation										0.00%		0.00%		0.00%


Loss Severity Approximation for Current Period										0.00%		0.00%		0.00%
3 Months Avg Loss Severity Approximation										0.00%		0.00%		0.00%
12 Months Avg Loss Severity Approximation										0.00%		0.00%		0.00%
Avg Loss Severity Approximation Since Cut-off										0.00%		0.00%		0.00%












Page 22 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution





COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY
	Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)



	Conditional Default Rate (CDR): 1-((1-MDR)^12)

	SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)0.02,MAX(0.03,MIN(30,WAS)0.02-0.0095*(WAS-60)))

	Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn)(1-MDRn+1)...*(1-MDRm)]^(1/months in period n,m)
	Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)

	Average SDA Approximation over period between the nth month and mth month:
	AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)0.02,MAX(0.03,MIN(30,Avg WASn,m)0.02-0.0095*(Avg WASn,m-60)))

	Average WASn,m: (WASn + WASn+1 +...+ WASm )/(number of months in the period n,m)
	Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)

	Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m)

	Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.
	Dates correspond to distribution dates.




Page 23 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution
Realized Loss Detail Report
Loan Number			Current		State &				Prior		Realized				Cumulative
															Cumulative
&		Loan	Note		LTV at		Original		Principal		Loss/(Gain)		Realized		Realized

Loan Group		Status	Rate		Origination		Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)
Loan Group		Status	Rate		Origination		Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)




TOTAL



Page 24 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS
TRIGGER EVENTS
										Group 2		Group 1		Total
						Trigger Event in effect (0=No , 1=Yes)								0
						Stepdown Date has occurred (0 = No, 1=Yes)								0
						3M Rolling Avg.Bal 60+ days includes BK,FC,REO								6,064,567.36
						Ending Balance								868,045,387.00
						Prior Period Senior Enhancement Percentage								21.1549%



ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
										Group 2		Group 1		Total
Basis Risk CarryForward Amount paid														0.00
Basis Risk CarryForward Amount unpaid														0.00




Page 25 of 26
Morgan Stanley ABS Capital I Inc. 2005-HEL2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-HEL2

August 25, 2005 Distribution
Other Related Information
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
										Group 2		Group 1		Total
Current Scheduled Payments														5,809,667.81
Current Scheduled Payments 1 Month Prior														5,939,324.95
Current Scheduled Payments 2 Month Prior														6,014,981.54
Current Scheduled Payments 3 Month Prior														0.00
Current Scheduled Payments 4 Month Prior														0.00
Current Scheduled Payments 5 Month Prior														0.00
Current Scheduled Payments 6 Month Prior														0.00
Current Scheduled Payments 7 Month Prior														0.00
Current Scheduled Payments 8 Month Prior														0.00
Current Scheduled Payments 9 Month Prior														0.00
Current Scheduled Payments 10 Month Prior														0.00
Current Scheduled Payments 11 Month Prior														0.00





Sched. Payments for 60+Day Delinquent Loans										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 1 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 2 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 3 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 4 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 5 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 6 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 7 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 8 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 9 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 10 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 11 Month Prior										0.00		0.00		0.00




Page 26 of 26

Morgan Stanley Home Equity Loan Trust 2005-2 8-K